Pawhuska, Oklahoma Bank Gives SBA Loan to Limited-Service Restaurants Company

Thinking about meeting with a Pawhuska, Oklahoma bank about a business loan? Here's one Oklahoma business loan, issued by a Pawhuska bank, that was approved by the SBA.

Applying for an SBA loan with First National Bank In Pawhuska worked out well for our friends at one local company in Barnsdall, Oklahoma. They received an SBA loan for $50,222. Great job!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BARNSDALL, OK 74002

SBA Loan Lender

FIRST NATIONAL BANK IN PAWHUSKA
100 W MAIN
PAWHUSKA, OK 74056

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/19/2005

Loan Approval Gross Amount

$50,222

Loan Approval from the SBA

Of the total $50,222 loan amount, the SBA guaranteed $42,688.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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